ICAEW.com works better with JavaScript enabled.

ICAEW Business Confidence Monitor: national

The latest ICAEW Business Confidence Monitor (BCM) shows that business confidence has hit a decade-low as Brexit uncertainty, political instability and slow economic growth take their toll.

Download the latest report

Q4 2019 UK Business Confidence Monitor.


Key findings this quarter

  • Confidence weakening over the past five years, reaching now the lowest level since the start of 2009.
  • Depressed confidence both cause and consequence of slow sales growth, with exports looking particularly weak.
  • Modest profit rises reflecting slower sales and limited selling price increases. Plus, expectations for the year ahead have fallen.
  • Weak productivity also a reason for slow profit growth - only 39% of companies rising their productivity.
  • Slow sales and profit growth feeding through to investment growth, with plans for the year ahead particularly low.
  • Companies continuing to restrict employment growth, with fewer seeing skills shortages as a growing business challenge.


Research methodology

Find out about the research methods that underpin the ICAEW Business Confidence Monitor.

Using BCM data

If you'd like to use this data in a publication or share it with clients, please tell us in advance by emailing bcm@icaew.com, and make sure to reference 'ICAEW Business Confidence Monitor' in full whenever you are citing the data.

Taking part in the BCM

If you're an ICAEW member working in industry or commerce you might be called to give an opinion on the economic prospects facing your organisation - please spare a few minutes to take part. Your views will provide information on matters of key concern to a broader businesses community, policy-makers and the media. You'll also be helping ICAEW to promote Chartered Accountants as business people with a serious contribution on business, finance and economic issues.